CVR Energy (NYSE:CVI) Trading Up 3.7% – Here’s Why

CVR Energy, Inc. (NYSE:CVI)’s stock price rose 3.7% during trading on Monday . The stock traded as high as $21.20 and last traded at $21.10. Approximately 129,189 shares traded hands during mid-day trading, a decline of 86% from the average daily volume of 912,277 shares. The stock had previously closed at $20.35.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. Mizuho increased their price target on CVR Energy from $18.00 to $20.00 and gave the stock a “neutral” rating in a research report on Monday, December 16th. StockNews.com upgraded CVR Energy from a “sell” rating to a “hold” rating in a research report on Wednesday, February 19th. Finally, The Goldman Sachs Group decreased their price target on CVR Energy from $24.00 to $21.00 and set a “sell” rating for the company in a report on Friday, December 6th. Five research analysts have rated the stock with a sell rating and three have assigned a hold rating to the company. Based on data from MarketBeat.com, CVR Energy currently has a consensus rating of “Reduce” and an average target price of $23.00.

CVR Energy Stock Performance

The company has a market capitalization of $2.00 billion, a price-to-earnings ratio of 332.06 and a beta of 1.57. The firm has a fifty day simple moving average of $19.31 and a 200 day simple moving average of $21.00. The company has a debt-to-equity ratio of 2.15, a current ratio of 1.66 and a quick ratio of 0.86.

CVR Energy (NYSE:CVI) last released its quarterly earnings results on Tuesday, February 18th. The oil and gas company reported ($0.13) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.12). CVR Energy had a net margin of 0.09% and a negative return on equity of 5.12%. The company had revenue of $1.95 billion during the quarter, compared to analyst estimates of $1.85 billion. On average, analysts anticipate that CVR Energy, Inc. will post -0.12 earnings per share for the current fiscal year.

Insider Activity at CVR Energy

In other news, major shareholder Carl C. Icahn acquired 878,212 shares of CVR Energy stock in a transaction that occurred on Wednesday, January 8th. The stock was purchased at an average cost of $18.25 per share, with a total value of $16,027,369.00. Following the purchase, the insider now owns 67,570,593 shares in the company, valued at $1,233,163,322.25. This trade represents a 1.32 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.01% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On CVR Energy

Several hedge funds and other institutional investors have recently modified their holdings of the business. Vanguard Group Inc. raised its holdings in CVR Energy by 3.9% in the 4th quarter. Vanguard Group Inc. now owns 4,135,315 shares of the oil and gas company’s stock valued at $77,496,000 after acquiring an additional 154,125 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of CVR Energy by 12.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,181,295 shares of the oil and gas company’s stock valued at $40,876,000 after purchasing an additional 238,081 shares during the last quarter. State Street Corp lifted its position in CVR Energy by 18.1% during the third quarter. State Street Corp now owns 2,075,058 shares of the oil and gas company’s stock worth $47,789,000 after buying an additional 317,475 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in CVR Energy by 22.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 783,079 shares of the oil and gas company’s stock worth $14,675,000 after buying an additional 143,941 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. grew its holdings in CVR Energy by 36.6% in the 4th quarter. Jacobs Levy Equity Management Inc. now owns 776,313 shares of the oil and gas company’s stock valued at $14,548,000 after buying an additional 207,872 shares in the last quarter. 98.88% of the stock is owned by hedge funds and other institutional investors.

About CVR Energy

CVR Energy, Inc, together with its subsidiaries, engages in the petroleum refining and marketing, and nitrogen fertilizer manufacturing activities in the United States. It operates in two segments, Petroleum and Nitrogen Fertilizer. The Petroleum segment refines and supplies gasoline, crude oil, distillate, diesel fuel, and other refined products.